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The Italian statistician Corrado Gini developed the Gini coefficient and published it in his 1912 paper Variabilità e mutabilità (English: variability and mutability). [16] [17] Building on the work of American economist Max Lorenz, Gini proposed using the difference between the hypothetical straight line depicting perfect equality and the actual line depicting people's incomes as a measure ...
A complete handout about the Lorenz curve including various applications, including an Excel spreadsheet graphing Lorenz curves and calculating Gini coefficients as well as coefficients of variation. LORENZ 3.0 is a Mathematica notebook which draw sample Lorenz curves and calculates Gini coefficients and Lorenz asymmetry coefficients from data ...
Gini: Higher Gini coefficients signify greater inequality in wealth distribution. A Gini coefficient of 0 reflects perfect wealth equality, where all wealth values are the same, while a Gini coefficient of 1 (or 100%) reflects maximal wealth inequality, a situation where a single individual has all the wealth while all others have none.
The Consumer Price Index (CPI) revealed headline inflation rose 0.1% over last month and 4% over the prior year in May, a slowdown from April's 0.4% month-over-month increase and 4.9% annual gain.
The closer the Gini Coefficient is to one, the closer its income distribution is to absolute inequality. In 2007, the United Nations approximated the United States' Gini Coefficient at 41% while the CIA Factbook placed the coefficient at 45%. The United States' Gini Coefficient was below 40% in 1964 and slightly declined through the 1970s.
Since peaking at a record 11.7% in March 2022, wholesale inflation has cooled drastically, especially during the past year, dropping from an annual 6.4% rate in December 2022 to the modest reading ...
However, from December 1982 through December 2011, the all-items CPI-E rose at an annual average rate of 3.1 percent, compared with increases of 2.9 percent for both the CPI-U and CPI-W. [28] This suggests that the elderly have been losing purchasing power at the rate of roughly 0.2 (=3.1–2.9) percentage points per year.
Consumer prices in April showed inflation pressures remain elevated in the US economy while headline prices rose at the slowest annual rate since the period ending April 2021.